Anglo American has held discussions with technology companies considering equity investments in the miner to secure future supplies of copper and other metals used in data centres, Chief Executive Duncan Wanblad said at a metals summit in London on Oct. No investment has been completed, but Wanblad said there had been strong interest in taking stakes rather than relying solely on long-term offtake contracts.
The talks reflect a widening effort by technology companies to secure materials for data-centre and artificial-intelligence infrastructure. The choice under discussion is whether to contract directly for future production or gain exposure through ownership of a mining company. BHP Chief Financial Officer Vandita Pant separately said BHP had spoken with large cloud providers about supply arrangements, while distinguishing those discussions from direct equity investment.
Copper prices were near record levels during the summit. December Comex copper traded around $6. 52 a pound, or about $14,370 a tonne, while LME cash copper had settled at a record $14,822 earlier in the week.
Anglo is awaiting China’s final antitrust clearance for its proposed merger with Teck. The companies expect the transaction to close between September 2026 and March 2027, with China the last outstanding regulatory milestone identified by Anglo in its latest production update. The combined company would produce about 1. 2 million tonnes of copper a year and rank among the world’s five largest copper producers.
China’s market regulator has sought commitments for a steady flow of copper concentrate to Chinese smelters, including material sold through traders, as part of discussions over approval. The proposed remedies do not include asset sales. The merged group would account for about 5% of global copper supply, while China remains a dominant copper-refining centre and is contending with a shortage of smelter feedstock.
Anglo’s copper portfolio produced 173,200 tonnes in the second quarter, and the company maintained 2026 guidance of 700,000 to 760,000 tonnes. Its broader restructuring also includes the agreed sale of its nickel business, a process still subject to European antitrust approval, and efforts to sell De Beers. Those steps would leave the Teck transaction and nickel disposal as major remaining parts of the portfolio simplification.